Know More. Risk Better.

In this episode of the Know More. Risk Better. podcast, Winnie Cisar is joined by Kerry Kantin to discuss the key trends, risks, and opportunities shaping the broadly syndicated loan market. They examine the rebound in loan issuance, the growing divergence between higher- and lower-quality credits, and how AI-related uncertainty is affecting software and technology borrowers.  The conversation also explores refinancing activity, liability management protections, the approaching 2028 maturity wall, and the evolving relationship between private credit and broadly syndicated loans. They assess the rise of AI infrastructure and data center financings, changing CLO dynamics, and the technical factors influencing leveraged finance markets. This episode offers valuable insights into the forces driving loan market performance and the risks and opportunities credit investors should watch in the months ahead. 

In this episode of the Know More. Risk Better. podcast, Zachary Griffiths is joined by Cedric Chehab at BMI to discuss the key macroeconomic, geopolitical, and market forces shaping the global outlook. They examine the evolving situation between the US and Iran, the implications of higher oil prices, inflation risks, and how central banks may respond if geopolitical tensions escalate.  The conversation also explores the outlook for the US economy, labor markets, interest rates, the US dollar, and the growing role of AI-driven investment in supporting growth while raising concerns about valuations and potential market excesses. Zach and Cedric further discuss political risk, the 2026 US midterm elections, housing market challenges, and how investors can navigate an increasingly uncertain environment. Tune in for valuable insights into the risks, opportunities, and market dynamics that matter most for investors today. 

In this episode of the Know More. Risk Better. podcast, the conversation explores the rapid rise of SpaceX and what its expanding ambitions could mean for investors, credit markets, and the broader technology landscape. Winnie Cisar is joined by Zachary Griffiths and Davis Hebert to discuss SpaceX’s evolution from a rocket company into a business spanning Starlink satellite connectivity, AI infrastructure, and future growth initiatives. They examine the company’s IPO, bond issuance, valuation debate, credit ratings, cash burn concerns, and the role of Elon Musk in shaping its long-term vision.    The conversation also explores potential disruption across telecom and technology markets, the challenges of valuing a company driven by future opportunities, and the key catalysts investors should watch. This episode offers valuable insights into one of the market’s most closely watched companies and the risks and opportunities emerging across AI, connectivity, and space-driven innovation.  

In this episode of the Know More. Risk Better. podcast, the discussion examines how resilient economic growth, elevated interest rates, and strong market technicals are shaping the outlook for global credit markets through 2H26 and into 2027. Winnie Cisar is joined by Zachary Griffiths and Logan Miller to assess the impact of evolving Fed and ECB policy expectations, labor market strength, and persistent demand for yield across credit markets.  The conversation explores tight credit spreads, fund flows, duration and sector positioning, and differences between U.S. and European credit dynamics, while also addressing AI-driven market optimism and the key risks that could challenge valuations. Gain timely, macro-driven insights to help investors navigate market uncertainty, assess credit conditions, and identify opportunities across global fixed income and credit markets. 

In this episode of the Know More. Risk Better. podcast, the conversation explores how decades of experience across major market cycles are shaping today’s views on macro dynamics, interest rates, and investor behavior. Zachary Griffiths is joined by Mike Schumacher to reflect on key turning points including the 2008 financial crisis and earlier market dislocations, and to discuss how shifting incentives, capital flows, and central bank policies continue to influence market outcomes.  They examine the balance between fundamentals and technicals, the growing role of investor behavior, and the resilience of markets amid geopolitical shocks, alongside the near-term inflationary and longer-term disinflationary impact of AI. The episode delivers a clear, experience-driven perspective to help investors better navigate today’s complex macro and credit environment. 

In this episode of the Know More. Risk Better. podcast, the conversation explores how cyclical weakness and structural disruption are reshaping the outlook for European autos and influencing credit markets. Logan Miller is joined by Jim Williamson to discuss the growing impact of Chinese EV competition on market share, margins, and the long-term positioning of European OEMs, alongside lessons from historical US-Japan auto competition.   They examine the divergence between credit and equity signals, the role of protectionism and cost pressures, and how shifting fundamentals could affect investor risk sentiment. The episode delivers a clear, forward-looking perspective to help investors navigate credit positioning in an increasingly complex autos landscape. 

In this episode of the Know More. Risk Better. podcast, Winnie Cisar introduces a special episode featuring a replay of CreditSights’ U.S. Special Situations Outlook: LMEs, Litigation and Bankruptcy webinar, exploring how evolving market conditions are shaping stressed and distressed credit dynamics. Mark Lightner is joined by Winnie Cisar, Jory Eisenberg, Ian Feng, and Patrick Holohan to discuss the market outlook, sector themes, and the growing role of liability management exercises, litigation, and bankruptcy in credit outcomes. They examine defaults, distress trends, and evolving transaction structures, offering practical insights on valuation and positioning. The episode delivers clear, forward-looking perspective to help investors better understand and navigate opportunities in the special situations credit market.

In this episode of the Know More. Risk Better. podcast, the conversation explores how disruption in the Strait of Hormuz is reshaping global trade flows, oil markets, and supply chain resilience, and how these dynamics are influencing market outcomes. Zachary Griffiths is joined by Chiedza Madzima at BMI to discuss the scale of shipping constraints, why oil prices have remained resilient despite logistical strain, and when physical shortages could begin to impact markets. They examine investor expectations, policy responses, and longer term implications for maritime choke points and supply chain design, offering practical insights on how operational risks translate into market impact. The episode delivers a clear, forward-looking perspective to help investors navigate evolving geopolitical and supply chain risks.

In this episode of the Know More. Risk Better. podcast, the conversation explores the growth, structure, and investment appeal of corporate hybrids, and how evolving market dynamics are shaping their role in issuer capital structures. Logan Miller is joined by Andrew Moulder to discuss the expansion of the hybrid market beyond utilities, the key benefits including higher yields, tax and accounting advantages, and the associated risks such as extension risk and refinancing challenges. They examine investor demand, market sentiment, and future growth prospects, offering practical insights on valuation and positioning. The episode delivers clear, forward-looking perspective to help investors better understand and navigate opportunities in the hybrid credit market. Related Resource: Hybrids 101 Explore hybrid bond structures to understand how they blend equity and debt features, shaping both risk exposure and return potential. Download the presentation: https://know.creditsights.com/hybrids-101-pdf/?utm_campaign=35088676-2026%20-%20Growing%20CreditSights%20Subscribers&utm_source=youtube&utm_medium=social&utm_term=youtube%20gated%20content&utm_content=Hybrids%20101 

In this episode of the Know More. Risk Better. podcast, the conversation explores how shifting energy markets, geopolitical developments, and evolving policy dynamics are shaping the outlook for US power and clean energy. Zachary Griffiths is joined by Andy DeVries to discuss the divergence between oil and natural gas prices, the impact of rising data center demand on power markets, and a contrarian view that clean energy tax credits are likely to return.  They examine implications for wind and solar growth, power price trajectories, and investment positioning across utilities and energy assets. The episode delivers practical, forward-looking insight to help investors navigate the evolving energy and power landscape with greater confidence. 

In this episode of the Know More. Risk Better. podcast, host Zachary Griffiths speaks with Matt Woodruff, Head of Aerospace & Defense and Transports, about the evolving dynamics of the U.S. airline industry and the factors reshaping profitability in 2026. They unpack the collapse of Spirit Airlines, examining the pressures facing ultra low cost carriers and the competitive response from major airlines. The discussion explores the impact of rising fuel costs, the growing importance of loyalty programs, and the role of premium demand in a K-shaped economic recovery. They also assess the outlook for consolidation, including potential mergers and strategic positioning across carriers. The episode concludes with insights into balance sheet strength, liquidity trends, and how airlines are navigating cost pressures in a volatile operating environment. Listen now for expert perspectives on aviation sector risks and credit implications.

In this episode of the Know More. Risk Better. podcast, the conversation unpacks how shifting rate expectations, geopolitical uncertainty, and evolving market dynamics are shaping the leveraged loan market. Winnie Cisar is joined by Kerry Kantin to discuss the sharp shift in market sentiment, slowing issuance, and the challenges facing refinancing and deal timing amid volatility. They explore the rise of AI infrastructure and data center financing, changing dynamics between loan and high yield markets, and the evolving relationship with private credit. The episode delivers timely insight to help investors better navigate today’s complex leveraged finance landscape with greater confidence. 

In this episode of the Know More. Risk Better. podcast, host Logan Miller speaks with Anwita Basu, Head of Country Risk for Europe at BMI, about Europe’s macro outlook, geopolitical pressures, and evolving credit risks in 2026. They discuss how repeated crises have reshaped Europe’s strategic priorities, from energy transition and defense spending to fiscal coordination and competitiveness. The conversation examines the impact of Middle East tensions on energy prices, Europe’s role as a price taker, and the risk of prolonged stagflation amid weak demand and higher-for-longer interest rates. They also explore Germany’s expansionary fiscal stance, housing market pressures, and divergent policy responses across the region. The episode concludes with insights on geopolitical volatility, US-Europe transmission risks, and what investors are watching next. Listen now for expert perspectives on European credit conditions and macro risk dynamics.  

In this episode of the Know More. Risk Better. podcast, the conversation unpacks how global macro volatility, geopolitical tensions, and private credit risk are shaping today’s fixed income markets, with a strong focus on Asia. Zachary Griffiths is joined by Zerlina Zeng to discuss the impact of Middle East conflict on energy prices and yields, evolving investor behavior in Korea and China, and shifting allocations between US assets, local rates, equities, and alternatives. They explore private credit exposure, tight credit spreads, US rate uncertainty, and the growing influence of AI on market dynamics and investment workflows. The episode delivers timely, regionally grounded insight to help investors better navigate global credit markets with confidence. 

In this episode of the Know More. Risk Better. podcast, host Zachary Griffiths is joined by Peter Simon, Head of US Banks, and Simon Adamson, Head of European Banks, to examine rising investor concerns around private credit and bank exposure. They explore whether current risks echo 2008, discussing regulatory changes, capital strength, and why a systemic crisis appears unlikely. The conversation analyzes how banks lend to private credit funds, BDCs, and business credit intermediaries, focusing on structure, collateral, and capital impact. They also assess market pricing signals, default risk, and exposure metrics such as total loans and CET1 capital. The episode compares US and European bank exposure, highlights regulatory scrutiny, and addresses software and AI-related credit concerns. It concludes with insights on monitoring private credit risk without losing sight of broader bank fundamentals. Listen now for a clear, data-driven view of private credit and bank risk across global markets and evolving credit cycles in 2026 and investor positioning.

In this episode of the Know More. Risk Better. podcast, the discussion unpacks the mechanics, growth, and practical use of fixed income ETFs in today’s credit markets. Winnie Cisar is joined by Pat Luby for an ETF 101 conversation covering why ETFs have gained traction, how fund flows and price discovery work, and the roles of liquidity, tax efficiency, and authorized participants. They examine primary versus secondary markets, the expanding ETF universe across credit sectors, and how investors use ETFs for hedging, portfolio construction, and tactical positioning. The episode also explores active versus passive strategies and why ETFs influence bond liquidity and trading behavior. Gain clear, actionable insights to better understand and apply ETFs in fixed income investing.  Related Resource: US COTD: Fund Flows as of Apr 8, '26 & ETF Podcast Discover US ETF Fund Flows as investor allocations shift across fixed income, credit sectors and bond ETFs amid volatile market conditions. Read the full article here: https://know.creditsights.com/insights...

In this episode of the Know More. Risk Better. podcast, the discussion examines how geopolitical risk, private credit stress, and AI‑driven uncertainty are reshaping global credit markets in 2026. Winnie Cisar is joined by Zachary Griffiths and Logan Miller to assess the market impact of the Iran conflict, rising energy prices, and heightened scrutiny on private credit and BDCs. The conversation explores sharp repricing in rates, evolving central bank expectations, and differences between U.S. and European credit dynamics, while also addressing AI‑related investment risks and labor market implications. Gain timely, macro‑driven insights to help investors navigate volatility, assess credit conditions, and identify opportunities across rates and credit markets.  

In this episode of the Know More. Risk Better. podcast, the discussion explores whether private credit is facing a true turning point or moving through a cyclical reset amid rising scrutiny, BDC redemptions, and shifting return expectations. Winnie Cisar is joined by Andrew Hedlund and Zachary Griffiths to unpack recent stress in private credit markets, the role of software and AI‑related concerns, and how deal flow, valuations, and underwriting standards are evolving. The conversation also examines the implications for public credit markets, bank and insurance exposure, and what investors should monitor to assess broader systemic risk. Gain timely, market‑driven perspectives to help investors better evaluate private credit dynamics shaping fixed income and leveraged finance conditions.    

In this episode of the Know More. Risk Better. podcast, the discussion examines critical developments reshaping the bankruptcy and restructuring landscape in Q1 2026, including liability management exercises, contested Chapter 11 cases, and evolving legal standards for third-party releases. Patrick Holohan, Mark Lightner, and Ian Feng from CreditSights are joined by Raff Ferraioli of Morrison & Foerster and Marc Heimowitz of Creditor Rights Coalition to break down key cases ranging from Office Properties Income Trust's $135 million OID settlement to Multicolor's venue battle and contested DIP facility, plus Serta Simmons' ongoing damages trial. The conversation also explores highlights from the Creditor Rights Coalition symposium at NYU tracking 46 potential LMEs, fraud concerns including double-pledging issues, convergence of private credit and BSL markets, anti-cooperation provision developments, and the strategic whack-a-mole game between sponsor tactics and creditor protective blockers. Gain practical, expert perspectives to help investors and practitioners better assess restructuring risks, litigation outcomes, and positioning in today's complex credit environment.  

In this episode of the Know More. Risk Better. podcast, the discussion explores how the U.S. labor market is evolving amid slowing job growth, persistent low‑hire, low‑fire dynamics, and rising uncertainty tied to AI, geopolitics, and policy. Zachary Griffiths and Laura Ullrich break down recent nonfarm payrolls data, sector imbalances driven by healthcare, and growing challenges for job seekers despite low unemployment. The conversation also examines how AI is reshaping hiring patterns, especially in tech, the risk of a timing mismatch between AI investment and labor demand, and insights from job posting data on entry‑level roles. Gain timely, data‑driven perspectives to help investors better assess labor market signals shaping credit and macro risk. 

In this episode of the Know More. Risk Better. podcast, host Zachary Griffiths speaks with Andrew Brady, Head of US Basic Industries, Andy Belton, Head of European Basic Industries, and Peter Agra, Managing Editor for Secondary Markets at LevFin Insights, about the embattled chemicals sector navigating multiple headwinds in 2026. They dive deep into the Middle East conflict's impact, analyzing how oil price spikes and supply disruptions are creating feedstock cost mismatches and the credit implications for US versus European producers. The conversation explores the structural challenges facing European chemicals, with persistent oversupply requiring 800,000 tons of PVC capacity closures and companies like INEOS Group and Quattro trading at distressed levels amid 2027 maturity concerns. They also discuss the Bayer-Monsanto litigation saga, examining the Supreme Court case, proposed settlement structure, and Trump administration's glyphosate defense exemption reshaping risk premiums. The episode concludes with insights on investor rotation from software into cyclical chemicals exposure, including the limited impact of Germany's $500 billion infrastructure package and secondary market dynamics. Listen now to gain expert perspectives on chemicals sector credit views and strategic positioning opportunities amid unprecedented volatility.

In this episode of the Know More. Risk Better. podcast, host Logan Miller speaks with Mihir Trivedi, Senior Analyst for European Transportation, about the fast-moving Middle East conflict and its implications for global aviation and European credit. They explain why Middle Eastern airspace is a critical corridor linking Europe and North America to Asia, and how widespread airspace closures and airport disruptions have triggered mass cancellations, longer reroutings, and higher operating costs that are ultimately passed through to consumers. The discussion covers near-term demand effects, including weaker passenger numbers, deferred business travel, and reduced load factors, alongside medium-term implications such as higher airfares, capacity being redirected to other routes like the transatlantic market, and a potential shift toward more direct ultra long-haul flights. They also assess financial pressure points for airlines, focusing on jet fuel as the largest cost line, the importance of hedging into 2026, and how fleet efficiency can create winners and losers as disruptions extend. The episode concludes with relative value views across airports and airlines, highlighting Heathrow’s constraints and exposure versus more defensive alternatives, and reiterating a preference for higher-quality balance sheets in the airline space.

In this episode of the Know More. Risk Better. podcast, host Winnie Cisar, Global Head of Strategy at CreditSights, speaks with Peter Simon, Head of U.S. Banks, and Iris Shi, Senior Banks Analyst, about the state of the US consumer in 2026. They tackle the disconnect between negative consumer sentiment headlines and the more constructive narrative from bank earnings. The discussion explores key data points supporting consumer health, including low unemployment in the mid-4% range, elevated consumer balance sheets up 30-40% since pre-COVID, and stable payment rates. They analyze credit quality trends, examining how improved lending vintages from 2023 onwards are driving stabilization through early 2026. The conversation delves into spending dynamics, revealing mid-single-digit purchase volume growth and bifurcation across income tiers, with American Express showing strength in travel and luxury while Synchrony sees weakness in furniture and home improvement. They dissect the student loan situation, analyzing the sharp rise to 9.6% delinquency in December 2025, Trump administration reforms under the One Big Beautiful Bill Act, and why contagion risk to other consumer lending categories remains limited. The episode concludes with underappreciated risks, including generational dynamics affecting Gen Z borrowers and regulatory proposals like the 10% credit card interest rate cap. Listen now to gain expert perspectives on consumer credit positioning opportunities for 2026.

In this episode of the Know More. Risk Better. podcast, host Zachary Griffiths speaks with Regis Chatellier, Head of Emerging Market Sovereign Strategy at CreditSights, and Lauren Gilbert, Senior Political Science Analyst at GeoQuant, about the escalating situation in Iran and its global market implications. They analyze the aftermath of January 2026 protests, examining GeoQuant's proprietary political risk models showing elevated risk comparable to 2019-2020 levels. The conversation explores the tail risk of a Strait of Hormuz blockade and its potential impact on oil prices, with countries like Iraq, Kuwait, and Qatar facing significant export disruptions. They discuss the Trump administration's unpredictability following the Venezuela intervention, ongoing US-Iran nuclear talks, and military asset positioning in the region. The episode examines Iran's critical role supplying oil and drones to Russia and China, while sovereign spreads trade at their tightest levels since 2007 despite geopolitical risks. They conclude with investment recommendations, highlighting opportunities in Latin America, Morocco, and Dominican Republic, while expressing caution on Turkey and Asia. Listen now to gain expert perspectives on emerging market credit positioning amid heightened geopolitical uncertainty in 2026.

In this episode of the Know More. Risk Better. podcast, the discussion explores how Asian investors are navigating global credit markets amid volatile US rates, shifting macro expectations, and rapid AI-driven investment. Zachary Griffiths and Zerlina Zhang unpack key takeaways from Zerlina’s recent roadshow across Greater China and Taiwan, covering investor sentiment on Fed policy and US growth, yield-seeking behavior, private credit contagion risks, AI capex trends, Japan’s fiscal outlook and JGB volatility, and the growing appeal of Asia local currency bonds, particularly Australian dollar debt. Gain timely, on-the-ground insights to help investors better assess cross-market risks and identify opportunities in an increasingly uncertain global environment. 

In this episode of the Know More. Risk Better. podcast, host Logan Miller speaks with Mary Pollock, Head of Real Estate, about the European real estate sector's outlook for 2026. They explore the current stage of the recovery cycle, noting that commercial real estate valuations reached their trough in mid-2024 and are now in early recovery phase, though slower than post-GFC. The conversation examines subsector dynamics, with offices remaining the most challenged while residential and logistics show strength. Mary discusses the impact of rising government bond yields—with 10-year bunds up nearly 80 basis points to 2.85%—and how this affects fundraising and valuations despite improved rate stability. They analyze the critical shift in capital allocation, as companies move from defense mode to investment and shareholder returns, including share buybacks at Vonovia, Bouwinvest, and Aroundtown. The discussion covers primary market strength, with riskier crossover names and hybrids seeing strong reception and minimal new issue concession. Mary outlines her cautious outlook on credit metrics, expecting flat-to-higher LTVs and weaker interest coverage ratios due to refinancing legacy low-cost debt. The episode concludes with positioning recommendations, favoring the 5-7 year maturity bucket and specific outperforms including Heimstad Boesdad, VGP, and Blackstone Property Partners Europe, while cautioning on Austria. Listen now to gain expert perspectives on European real estate credit strategy for 2026.

In this episode of the Know More. Risk Better. podcast, host Winnie Cisar, Global Head of Strategy at CreditSights, speaks with Todd Duvick, Head of Autos, and Jim Williamson, Senior Autos Analyst covering Europe, about the global automotive sector outlook for 2026. They explore vehicle sales forecasts, with both US and Europe expecting flat to slightly higher volumes around 16 million units, constrained by affordability despite lower interest rates and new tax deductions. The conversation examines the deregulation wave, including Europe's pullback from the 2035 EV-only deadline to a 90% emissions reduction target and the US removal of consumer EV tax credits, saving GM $750 million annually. They analyze Chinese competition dynamics, with BYD's potential US manufacturing and government interventions to stabilize pricing. The discussion covers margin trajectories, with single-digit operating margins becoming the new normal, offset by declining capex as the investment super cycle ends. They also address credit rating outlooks, highlighting Ford's fallen angel risk, Honda's margin challenges, and Renault as a rising star candidate. The episode concludes with investment recommendations: VW senior bonds for Europe and Ford for tactical opportunities. Listen now for expert insights on automotive credit positioning.

In this episode of the Know More. Risk Better. podcast, host Zachary Griffiths speaks with Hunter Martin, Head of Media and Cable, and Davis Hebert, Co-Head of High Yield Research and TMT, about the evolving media landscape and M&A activity in 2026. They dive deep into the Warner Brothers Discovery saga, analyzing Netflix's $83 billion bid versus Paramount's competing all-cash offer and the credit implications for bondholders. The conversation explores the broader consolidation wave in cable networks, with companies like Versant trading at four times EBITDA and the potential for private equity involvement. They also discuss the sports landscape, examining cord cutting trends, YouTube TV's new skinny bundles, and how NFL and NBA rights are reshaping the pay TV ecosystem. The episode concludes with insights on broadcast TV deregulation, including the Nexstar-Tegna merger and its impact on the high yield market. Listen now to gain expert perspectives on media sector credit views and strategic positioning opportunities for 2026.

In this episode of the Know More. Risk Better. podcast, host Winnie Cisar speaks with Matt Woodruff about the outlook for aviation, defense, and transportation as markets face a challenging start to the year. They discuss airline demand, pricing pressures, and the future of loyalty programs, as well as aircraft supply chain issues, lessor trends, and industry consolidation. The conversation then shifts to defense spending and geopolitical risks that could shape credit markets. The episode concludes with insights on rail M&A and its implications for investors. Listen now to gain sector-specific credit views and strategic ideas to position your portfolio for 2026.   

Kicking off our first episode of 2026, Know More. Risk Better. explores the political and economic fallout following the capture of Venezuelan President Nicolas Maduro, examining scenarios for regime change, US intervention, and market reactions. Zachary Griffiths and Conor Beakey dive into Venezuela’s oil sector challenges, sanctions relief prospects, and the broader implications of US policy in Latin America, including risks to regional stability and historical context for interventions. Gain timely analysis and actionable insights for investors seeking to understand evolving geopolitical risks and opportunities in emerging markets. 

This week on "Know More. Risk Better." features host Winnie Cisar, global head of strategy at CreditSights, and Zachary Griffiths, Head of IG & Macro Strategy, as they reflect on a turbulent 2025 in US credit markets and preview the landscape for 2026. The conversation dives into defining moments of the year, lessons learned, and the persistent impact of technicals and liquidity on market resilience.  Winnie and Zach tackle the complexities of forecasting interest rates, the impact of monetary policy surprises, and the effects of tariffs and trade policy on investment grade corporates, while debating new issue supply, the dynamics between high yield and broadly syndicated loans, and looming refinancing risks. Additional highlights include a candid lightning round on private credit, covenant quality, and AI CapEx, as well as a discussion on the importance of risk assessment and the paradigm shift in market behavior post-pandemic. This episode offers key insights for navigating a complex, late-cycle credit environment heading into 2026. 

Season 9, Episode 22 This week on "Know More. Risk Better." features host Winnie Cisar along with Mark Lightner, for a comprehensive review of the 2026 Special Situations Outlook. The conversation examines the liability management transaction landscape, highlighting how creditor-on-creditor dynamics remained largely unchanged in 2025 despite the landmark Serta decision. The team explores the emerging antitrust challenge to creditor cooperation agreements, with two recent lawsuits (Selecta and Altice USA) alleging federal antitrust violations and seeking treble damages. Lightner discusses why this represents "the most important issue going into 2026" and how it could fundamentally alter the collaborative approach to restructurings. The discussion also covers the high-stakes Monsanto litigation heading to the Supreme Court, which could determine whether the $40 billion debt company faces bankruptcy over Roundup-related claims.  

Season 9, Episode 21 This week on "Know More. Risk Better." features host Zachary Griffiths along with Andy DeVries, for a data center deep dive following the Edison Electric Institute investor conference. The conversation examines the supply-demand disconnect in data center capacity, with utilities committing to approximately 100 gigawatts of new capacity by 2030 against third-party estimates indicating only 50 gigawatts of actual demand. The team explores the rate payer protections utilities are implementing to mitigate overbuild risk, counterparty concerns when data centers move off balance sheet into special purpose vehicles, and credit quality implications across the sector. DeVries also discusses why independent power producers like Vistra may be better positioned than traditional utilities, and the potential for political intervention in capacity markets as electricity bills become a midterm election issue.  

This week “Know More. Risk Better.” delivers a comprehensive 2026 Global Strategy Outlook, featuring expert analysis across US, European, Emerging Markets, and APAC credit sectors. CreditSights Global Strategy team opens with a review of macro and policy trends, including US growth slowdown, Fed rate cut trajectory, proactive ECB action, and regional fiscal stimulus. Speakers examine credit fundamentals, spread forecasts, and sector performance, highlighting drivers such as labor market fragility, tariff volatility, and AI-driven issuance.   The team discusses implications for investment grade, high yield, and leveraged finance, as well as EM sovereign and local currency bonds, outlining risks and opportunities for investors. Best practices in sector allocation, quality bias, and diversification are emphasized as the market navigates technical shifts, supply pressures, and evolving global risks. Panelists conclude with actionable insights and 2026 “bingo card” scenarios, stressing the importance of fundamentals, positioning, and agility for credit market participants. 

This week on "Know More. Risk Better." brings together hosts Winnie Cisar and Zachary Griffiths along with Peter Simon, Todd Duvick, and Jory Eisenberg for an "Autos Mythbuster" edition examining auto loan performance, consumer credit health, and whether rising repossession rates signal broader systemic risk. The team explores the bifurcation in consumer credit by income tier, the backward-looking nature of current delinquency and repo data, and why 2022 vintage loans have proven particularly problematic due to aggressive post-COVID origination, elevated vehicle prices, and deteriorating affordability for lower-income consumers. Peter and Todd discuss diverging trends at CarMax and Carvana, regional variations in auto loan performance, and the impact of extraordinary vehicle price depreciation on underwater loans. The team analyzes new and used car affordability challenges, tariff impacts on vehicle pricing, Ford and GM's profit-driven strategies, and the stabilization of competitive dynamics in the auto sector. They examine the ABS market's role in auto lending, loan-to-value considerations, and the minimal exposure of larger banks to subprime auto risk. This insightful discussion provides valuable context for credit analysts, investors, and market participants seeking to understand consumer credit trends, auto sector dynamics, and risk management in today's economy.

This week on "Know More. Risk Better." brings together host Logan Miller along with Luke Millar for a comprehensive analysis of the European leveraged finance landscape, examining 2025 market performance, primary market dynamics, and the outlook for 2026. The discussion covers record issuance volumes driven by refinancing, sector performance in chemicals and energy, and increased dividend recap transactions due to muted LBO activity.   Logan and Luke examine widening triple C spreads, recent market disruptions affecting sentiment, and the impact of high first-call premiums on refinancing. They also assess CLO demand via warehouse data, potential growth in M&A and sponsor activity, and Europe’s capacity for large LBOs post-EA deal. Additional topics include the 2026-2028 maturity wall, US firms issuing in euros for cheaper funding (reverse Yankees), and the rise of private credit as a significant capital source. This essential discussion provides strategic insights to navigate refinancing waves, re-leveraging trends, and capital structure optimization in today's complex European credit markets.  

This week on “Know More. Risk Better.” brings together host Zachary Griffiths along with Barry Eichengreen and Cedric Chehab for a deep dive into the parallels and differences between the Roaring Twenties, the Great Depression, and today’s global financial landscape. The panel explores historical market booms, the impact of new technologies, fiscal dominance, and political polarization, drawing comparisons with current risks and central bank responses.     Barry and Cedric discuss the structural constraints of the gold standard, lessons from banking crises, and the evolving role of non-bank financial systems. They analyze deflation risks, the future of the US dollar, and the rise of gold in central banks’ portfolios, highlighting ongoing challenges for policymakers and investors. This insightful discussion provides valuable context for professionals and market participants seeking to understand macroeconomic trends, global finance, and risk management in today’s interconnected world. 

This week on “Know More. Risk Better.” Zachary Griffiths is joined by Peter Simon and Meghan Neenan to unpack the latest “cockroach risk” headlines in U.S. capital markets, following bankruptcies at Tricolor and First Brands. The team analyzes credit quality trends for regional banks and BDCs, finding that fundamentals remain solid and recent losses are idiosyncratic, not symptomatic of broader stress.  Meghan highlights differentiation across BDCs, notes that exposures to recent bankruptcies were minimal and mainly linked to broadly syndicated loans, not private credit. The discussion explores leverage, dividend management as rates fall, and a looming 2026 maturity wall. The team flags growing liquidity and suitability risks as perpetual BDCs and private asset vehicles expand and touches on the increasing interconnectedness between banks and non-bank lenders. 

Season 9, Episode 15 This week "Know More. Risk Better." offers a comprehensive macro outlook for 2026, examining how private sector adaptation and fiscal stimulus helped mitigate 2025's tariff shocks while exploring key takeaways from recent IMF meetings - including cautious relief on trade impacts, excitement about AI-driven capex, and concerns about equity valuations and labor market weakness. The discussion navigates critical tensions facing policymakers, particularly the Fed's challenge balancing conflicting inflation and employment signals, debates over tariff pass-through to consumer prices, and questions about AI investment sustainability amid uncertain returns. The panel analyzes market-macro disconnects as equities rally despite mounting headwinds, assesses German fiscal expansion's potential boost to European growth, and highlights China's structural vulnerabilities beneath headline GDP figures, including collapsing fixed asset investment and persistent deflation. The episode concludes with contrarian takes for 2026: potential dollar strength despite bearish consensus, heightened China macro risks, and fundamentals returning to credit markets after a technically-driven year, providing essential perspective for navigating policy uncertainty and evolving global risks.

Season 9, Episode 14  This week “Know More. Risk Better.” offers a focused analysis on the SEC’s potential shift from quarterly to semiannual reporting, highlighting legal, covenant, and credit market impacts as the change is considered for US issuers. The panel begins with an overview of the SEC rulemaking process and regulatory drivers, then explores practical and legal challenges, such as disclosure consistency, litigation risks, and the continued role of anti-fraud obligations. Covenant experts review implications for bond and loan agreements, noting that most public company covenants defer to SEC requirements, while sponsor and private deals often maintain stricter quarterly reporting regardless of regulatory changes.   The discussion also examines market dynamics, including investor pressure for timely updates, impacts on spreads and volatility, and possible changes in management communication strategies. The team assesses how reduced reporting frequency may influence market structure, sell-side research, liquidity, and ETF rebalancing, emphasizing the importance of best practices for consistent material event disclosures. Panelists conclude that while the rule change may require a gradual adjustment period, actual market impacts will depend on issuer fundamentals, covenant language, and evolving investor expectations. 

Season 9, Episode 13 This week on “Know More. Risk Better.” Zachary Griffiths sits down with Hunter Martin and Kerry Kantin to break down the largest LBO on record: EA’s $55 billion take-private deal. The team unpacks the investor consortium behind the transaction, led by Saudi Arabia’s Public Investment Fund, explores why the equity check is unusually large, and analyzes the implications for EA’s balance sheet, leverage, and outstanding bonds.  They discuss deal timing, with early 2026 targeted for closing, and regulatory hurdles including antitrust and national security reviews. The conversation expands to current market conditions, expectations for future LBO activity, and the impact of elevated rates and AI-driven growth on deal making. Listen for clear takeaways on base case scenarios, market probabilities, and positioning around legal and macro catalysts that could influence spreads and sector performance. 

Season 9, Episode 12 This extended episode provides a comprehensive outlook across US, Euro, EM, and APAC credit markets as we head into 4Q25 and 2026. In US Credit Markets, the team sets an updated macro outlook and credit strategy, flags key trends shaping sovereign and corporate credit, and identifies the risk factors and market catalysts to watch. In Euro Credit Markets, they review sovereign and credit fundamentals, assess sector developments and potential issuer themes, and discuss the implications of policy and macro shifts across the region. For Emerging Market Sovereigns, they share the latest perspectives on EM credit risk and performance, highlight regional and country-specific views, and outline approaches to navigating volatility in global EM credit. In APAC Credit Markets, they examine risk factors and market catalysts, provide the latest read on APAC EM credit risk and performance, and review sovereign and corporate credit fundamentals across the region.

Special Edition Podcast Mini Series: 25 for 25: E5 In the finale of our 25 for 25 series, Winnie Cisar and Zachary Griffiths host CreditSights Co-Heads Erin Lyons and Matt Zloto to explore the future of credit research. They discuss AI’s role in improving efficiency and expanding coverage, the rise of private credit and related regulatory implications, and why people-powered insights and skeptical analysis still matter - plus how CreditSights is investing in talent and purpose-built tools to cut through noise and deliver actionable ideas.

Special Edition Podcast Mini Series: 25 for 25: E4 Winnie Cisar and Zachary Griffiths host a special 25th anniversary roundtable with Tony Canale, Luke Millar, Andrew Maier, and Beau Kuhn exploring how collaboration across the CreditSights and wider Fitch family creates investor advantage. They break down how news flow from LFI, covenant insights from Covenant Review, fundamental analysis from CreditSights, and data standardization from Bixby combine to deliver what Beau calls "the power of three plus data and analytics." Expect candid insights on how human expertise remains the essential differentiator in an increasingly data-driven world, plus a preview of future innovations including enhanced primary transaction coverage, European BSL market expansion, and AI-powered trade idea generation that will further integrate the "technicolor picture" these complementary businesses create together.

Season 9, Episode 11 This week on “Know More. Risk Better.” Logan Miller sits down with Mariya Nurgaziyeva, CFA and Amarveer Singh to decode a mixed European consumer backdrop with real credit implications. They unpack why personal consumption is lagging other growth drivers, what a pause in ECB cuts and softening labor markets mean, and how country-specific pressures in Germany, France, and the UK are filtering into earnings and spreads. Then they tackle tariffs and input costs - who’s truly exposed (spirits and luxury), why the hit has been more manageable than feared, and how mitigation via cost cuts, pass-throughs, and near-shoring is playing out. They map commodity pressures (vegetable oils, cocoa, coffee, dairy, beef, poultry), the surge in private label as volumes flag, and where pricing power still holds - like coffee. Expect clear takeaways on what’s driving consumer sentiment, base cases versus market worries, and how to position around sector and country catalysts that could move spreads—whether they widen on cost shocks or keep grinding tighter on defensives and experience-led demand.

Special Edition Podcast Mini Series: 25 for 25: E3 Host Winnie Cisar (Global Head of Strategy) is joined by Andy DeVries (Head of US Investment Grade; Head of Utilities), Eric Axon (Co-Head of High Yield; Head of Healthcare), and Mary Pollock (Head of Real Estate) to discuss the art and science of credit analysis. The conversation centers on turning information into decisions by blending quantitative analysis with qualitative judgment. Andy DeVries illustrates how sector data can inform relative value views. Eric Axon emphasizes a process-first approach that starts with the numbers before incorporating management behavior and industry context. Mary Pollock underscores the importance of governance, incentives, and disclosure - using company materials and past actions to test narratives - and how real-world inflection points refine instincts over time. The team also share approaches for developing junior talent, filtering noise during busy news cycles, gauging consensus, and recognizing potential turning points - balancing art and science to produce clear, actionable credit recommendations.

Season 9, Episode 10 This week on “Know More. Risk Better.” Winnie Cisar sits down with Mark Lightner to decode a whirlwind legal backdrop with real market stakes. They break down the Lisa Cook case - what a last-minute appellate decision could mean for Fed independence, who’s in the room for the next rate call, and how today’s legal signals shape the FOMC’s 2026 lineup. Then they tackle the Supreme Court’s fast-track review of IEEPA tariffs - what the justices will decide, why non-delegation matters, and how a reversal could ripple through refunds, trade deals, and positioning. Finally, they map the broader playbook of government intervention - from agency pressure and funding leverage to DOJ lawsuits - and how it’s hitting sectors differently. Expect clear takeaways on timelines, base cases versus market expectations, and how to position around legal catalysts that could move spreads - whether they break wider or keep grinding tighter.  (Please note, this podcast was recorded on Monday, September 15 at 4.30pm EDT)

Special Edition Podcast Mini Series: 25 for 25: E2 Hosts Winnie Cisar (Global Head of Strategy) and Zachary Griffiths, CFA (Head of US IG & Macro Strategy) are joined by Chris Snow (Global Head of Research), Pramod Shenoi (Head of Asia Pacific Research; Head of Financials, APAC), Brian Studioso (Head of Research, Europe) to discuss navigating credit crises. The conversation explores how experience and disciplined analysis shape CreditSights’ response to market shocks - from the Global Financial Crisis and COVID-19, to policy-driven volatility. The team weighs speed-to-market versus quality, emphasizes management quality and disclosure, and examines liquidity dynamics (“sell what you can”). They discuss calling market bottoms by tracking cross-segment flows, maintaining risk/reward discipline when spreads are tight, and leveraging global client engagement and teamwork to build resilience and deliver trusted, actionable research.

Season 9, Episode 09 This week on “Know More. Risk Better.” Zachary Griffiths interviews Winnie Cisar on the real state of the U.S. consumer and what it means for credit into 2026. They cut through mixed signals - solid balance sheets vs. sticker shock on everyday items like Chick-fil-A, rising car payments, and a cooling jobs market - to explain how spending, inflation, and policy expectations are shaping spreads. Winnie lays out why payroll weakness hasn’t cracked credit, how market cash and technicals are cushioning moves, and what could finally shift sentiment. Expect clear takeaways on positioning, risks to watch, and the scenarios that might push spreads wider - or let them grind tighter. 

Special Edition Podcast Mini Series: 25 for 25: E1 Hosts Winnie Cisar (Global Head of Strategy) and Zachary Griffiths, CFA (Head of US IG & Macro Strategy) sit down with European veterans Simon Adamson (Head of European Financials), Andy Belton (Head of European Basics & Infrastructure), and Andrew Moulder (Head of European Utilities) to explore the origins and evolution of independent credit research at CreditSights. The conversation revisits the founding vision, the launch of our London office, and defining moments from the Global Financial Crisis. The team discusses why cash flow analysis remains core, how relative value migrated from CDS to bonds, and the rise of complex instruments like hybrids and bank bail-in capital. They also dig into client engagement and reverse inquiry (including early work on Icelandic banks), and how European banks, utilities, and infrastructure credit have transformed over two decades.